NXP Semiconductors Reports 2Q 2022 Results

NXP Semiconductors N.V. reported financial results for the second quarter, ended July 3, 2022.

Key Highlights for the Second Quarter 2022:
• Revenue was $3.31 billion, up 27.6% year-on-year.
• GAAP gross margin was 56.8%, and GAAP operating margin was 28.5%.
• Non-GAAP gross margin was 57.8%, and non-GAAP operating margin was 36%.
• Cash flow from operations was $819 million, with net capex investments of $268 million, resulting in non-GAAP free cash flow of $551 million.

“NXP delivered quarterly revenue of $3.31 billion, an increase of 28% year-on-year and above the mid-point of our guidance range. Notwithstanding the clear macro-economic cross currents, NXP continues to perform well. Customer demand within the Auto and Industrial & IoT end-markets continues to exceed our incrementally improving supply, even as we risk-adjust our long-term orders. New design win commitments are remarkably strong across our focus end-markets, which underpins confidence that our investments are well aligned with the long-term market requirements,” said Kurt Sievers, NXP president and CEO.